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Lava alone survived the Chinese onslaught. It now seeks funds to take on foreign rivals

News Snapshot:

New Delhi: Lava, the homegrown smartphone and accessories brand, is in talks with investors to raise up to ?500 crore ($58 million) in the coming months before pursuing a public listing, a senior company executive said, as the company looks to ramp up its presence in the country. Sunil Raina, executive director at Lava International, did not disclose the valuation for its current funding effort but referred to an earlier attempt. “During our listing attempt in September 2021, bankers had assigned us a ?14,000 crore ($1.7 billion) valuation," he said. He also declined to reveal the likely valuation or a…

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